Jakarta: The Investment Coordinating Board Thomas Lembong stated the alleged dominance of state-owned enterprises (SOEs) in national strategic projects can hamper domestic investment growth.
The former trade minister also claimed that the problem can deteroriate the relationship between private companies and SOEs.
“I have received many complaints from the private sector concerning the issue," Lembong said here on Wednesday, September 11, 2019.
“The private companies hopes for mutuallly beneficial business partnerships with the
state ones. So, there will no be win-lose situations. We must achieve a healthy
equilibrium,” said Lembong.
President Joko "Jokowi" Widodo recently said that the fastest way to anticipate slowdown in global economic growth and the possibility of a recession is to promote foreign investment.
Therefore, the President ordered all ministries and institutions related to the economy to make a list of regulations that hamper investments and bring it to him in one week.
According to the President, a company only requires a 2-month licensing process in Vietnam while in Indonesia the same process will take years. (Translator:Muhammad Gestinev)